This comes a day after Union petroleum minister Dharmendra Pradhan said the country has offered Saudi Arabia a stake in the future strategic oil reserves and has also offered investment opportunities in the west coast refinery and Kakinada petrochemicals plants.
India has also sought reasonable oil prices for its refiners from Saudi Arabia
The revived plan of Coal India (CIL) to buy railway wagons to transport fuel is likely to see the transporter pay the miner lease rental for the rolling stock, similar to the arrangement the Indian Railways has with its arm Indian Railway Finance Corporation (IRFC).
To set in motion a revamped station redevelopment programme, the ministry of railways is seeking approval to nominate public-sector undertakings (PSUs) in case the proposed nodal agency, its arm Indian Railway Stations Development Corporation (IRSDC), is unable to start work on multiple stations simultaneously or fails to find a financially viable plan.
According to an analyst with a consultancy firm, while higher exposure to loans is not a problem per se if they can be serviced, IR lacks focus and pragmatism in PPP ventures and will have to redo schemes.
Amid reports that GAIL (India) may be split into marketing and gas pipeline verticals, Indian Oil (IOC)—which has shown interest in acquiring the gas utility—reckons that either divisions or the total business of GAIL offers synergies for the oil marketing company (OMC).
Almost a year after petroleum minister Dharmendra Pradhan tweeted that the ministry of petroleum and natural was exploring ways for home delivery of motor fuels, a pilot is expected to be started soon as required permissions are in place.
Budget 2018: Finance secretary Hasmukh Adhia has already gone on record to state that if crude hardens, the government would indeed consider cutting the excise duties on petrol and diesel to give relief to consumers and avoid a spike in inflation.
Budget 2018: “The Mumbai transport system, which is the lifeline of the city, will be expanded and augmented to add 90 km of double line track at the cost of Rs 11,000 crore. An additional 150 km of suburban network is also being planned at a cost of Rs 40,000 crore, including elevated corridors at some sections,” finance minister Arun Jaitley said.
Budget 2018: While the Indian Railways got a three-fold hike in its capex at Rs 1,46,500 crore as compared to 2013-14, the key area of concern remains its deteriorating operating ratio which in the revised estimates for FY18.
The latest decision by the Indian Railways to rationalise the tariff structure for coal transportation is expected to benefit independent power producers (IPPs) with a generation capacity of about 22,000 mega watt (MW).
Investment by Indian exploring companies in Mozambique gas field is unlikely to see any returns till 2022. This is due to instability in the host nation and not-so-keen approach by other consortium partners and no signs of a liquefied natural gas (LNG) terminal, required to transport fuel.
In a letter dated January 12 addressed to the secretary of the power ministry, Gurdeep Singh, CMD, NTPC, said the supply shortage “is leading to generation loss on account of coal”.
In comparison, around 20,000, or 36%, retail outlets across the country of the 55,000-odd are on A-site. An OMC executive close to the development claims that the additional rental burden in Delhi will make retailing unviable at the current fuel prices.
Indian Railways has fast-tracked its project for vacant land monetisation, a move that could boost its investible resources.
The Core Group of Secretaries on Disinvestment (CGD) headed by the Cabinet secretary has approved the broad contours of Oil and Natural Gas Corporation’s proposed acquisition of the government’s 51.11% stake in Hindustan Petroleum Corporation, paving the way for the transaction later this month, sources said.
In what could be termed as one of the most ambitious plans of the Indian Railways, the transporter is set to commission a feasibility and cost study for elevated railway tracks across the 10,000 km length of the Golden Quadrilateral connecting the four metros.
To tackle the issue of non-movement of freight, especially coal, and passengers on the Dhanbad-Chandrapura railway section in Jharkhand, the Indian Railways has planned to lay a diverted railway route.
Company likely to go by enterprise valuation rather than market capitalisation for government stake.
The ministry of railways has approached the ministry of corporate affairs to fix a tax liability issue of Indian Railway Finance Corporation (IRFC) which is affecting the net worth of the company, making it unattractive for listing.
The debit card will be launched in association with the State Bank of India and the transporter’s arm IRCTC.
Railway passengers will soon be offered ready-to-eat meals by the likes of Nestle.
The Indian Railway Catering and Tourism Corporation (IRCTC) and Coal India (CIL) are joining hands for a project to use the excess groundwater from the latter’s mines to produce purified packaged water being sold under IRCTC’s popular Rail Neer brand.
Given that some fuel retail outlet owners have approached the judiciary to appeal against the rule set by oil marketing companies (OMCs) to pay central minimum wages to outlet attendants, the OMCs have moved the Supreme Court seeking to transfer all such petitions to the apex court in New Delhi.
In the last three financial years and the current year till September-end, a total of 3,067 cases of adulteration and 5,732 cases of short delivery have been registered, according to data from the petroleum ministry.
The government currently has a little over 68% stake in ONGC, close to 79% in Coal India and a little less than 75% stake in NMDC. Agarwal said unutilised assets within these companies can also unlock a lot of opportunity.
Given how several households that want to benefit from the Pradhan Mantri Ujjwala Yojana (PMUY) may not have the means to refill liquefied petroleum gas (LPG) cylinders, the ministry of petroleum and natural gas is roping in microfinance institutions to offer them funding solutions.